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:: Press Releases ::
 
FINANCE COMMISSION VISITS ANDHRA PRADESH
Friday, September 12, 2014
 

1. Dr. Y.V. Reddy, Chairman, Prof. Abhijit Sen, Ms. Sushama Nath, Dr. M. Govinda Rao and Dr. Sudipto Mundle, Members of the Fourteenth Finance Commission and Sh. A.N. Jha, Secretary visited the State of Andhra Pradesh to hold consultations with the State Government and key stake holders on September, 12, 2014.

2. The Commission met with the Hon’ble Chief Minister, his Cabinet Colleagues and senior officers of the State Government, for discussions.

3. The Chief Minister Andhra Pradesh welcomed the Chairman and Members to Andhra Pradesh and outlined his vision 2029 for all round growth and development of Andhra Pradesh. The bifurcation of the State and loss of Hyderabad, the capital city, had left the State with a huge fiscal gap which required special dispensation of the Finance Commission.

4. He requested the Finance Commission to consider a formula which not only covers revenue deficit fully but also creates adequate surplus. Towards this, the State share in Central taxes needed to be increased to 50 percent from the present level of 32 percent. He also requested that FRBM norms may be relaxed for the State; a one-time debt waiver given along with grants for building the new capital and other specific grants proposed by the State.

5. The State Government submitted their Memorandum and made a detailed presentation on the finances of the State Government, the fiscal impact of State reorganization and their projection of finances for the award period. The State gave its views on some of the Terms of Reference and presented proposals for consideration of the Commission.

6. The Commission also interacted with representatives of political parties, Panchayati Raj Institutions, Urban local bodies and Trade and Industry Associations.

7. The Commission places on record its appreciation to the Chief Minister and State Government for the cooperation and support extended to the Commission and assures that the issues raised will receive due attention in the deliberation of the Commission. The Commission also looks forward to continuing interaction with the State Government.

8. The Commission will finalize its recommendations by October 2014 after completing its discussions with all the State Governments, the Government of India and relevant stake holders.

 
FOURTEENTH FINANCE COMMISSION,B-14/A, CHATRAPATI SHIVAJI BHAVAN, QUTAB INSTITUTIONAL AREA, NEAR KATWARIA SARAI, NEW DELHI-110016
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